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                                                                      EXHIBIT 10


                              EMPLOYMENT AGREEMENT

         THIS EMPLOYMENT AGREEMENT (this "Agreement") is made by and between The
Banc Corporation (the "Company"), and DAVID R. CARTER, an individual resident of
Alabama (the "Executive"), as of the 1st day of January, 2000.

         1.       Employment. The Company hereby employs the Executive as Chief
Financial Officer and Executive Vice President of the Company and as Chief
Financial Officer and Executive Vice President of The Bank, a wholly owned
subsidiary of the Company, and any other position agreed upon by the parties;
the Company agrees to use its best efforts to cause Executive to be elected as a
member of the Company's Board of Directors; and Executive hereby agrees to serve
the Company (and the Bank) in the foregoing capacities, upon the terms and
conditions set forth herein. The Executive shall have such authority and
responsibilities consistent with his position that may be set forth in the
Company's bylaws or assigned by the Company's Board from time to time. The
Executive shall devote his business time, attention, skill and efforts to the
performance of his duties hereunder. The Executive may devote reasonable periods
of time to serve as a director or advisor to other organizations, to charitable
and community activities and to managing his personal investments, provided that
such activities do not materially interfere with the performance of his duties
hereunder and are not in conflict or competitive with, or adverse to, the
interests of the Company.

         2.       Term. Unless earlier terminated as provided herein, the
Executive's employment under this Agreement shall be for a term (the "Term") of
three years which term shall be reviewed at least annually by the Company's
Board (or its compensation committee) for extension of the Term for an
additional one-year period.


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         3.       Compensation and Benefits.

         (a)      Executive shall receive a base salary of $[162,000] per annum.
The base salary shall be paid monthly. The Company's Board (or its compensation
committee) shall review the Executive's salary at least annually and may
increase the Executive's base salary if it determines in its sole discretion
that an increase is appropriate. The Company or The Bank shall also pay to the
Executive Directors' fees for serving on the various Boards of Directors of the
Company, The Bank or any branches of The Bank or any other subsidiaries of the
Company or The Bank. In addition, the Company's Board of Directors shall
annually consider the Executive's performance and determine if a bonus is
appropriate.

         (b)      The Executive shall participate in all retirement, welfare,
deferred compensation, life and health insurance and other benefit plans or
programs of the Company now or hereafter applicable to the Executive or
applicable generally to employees of the Company or to a class of employees that
includes senior executives of the Company. In any period during the Term that
the Executive is subject to a Disability, and during the 180-day period of
physical or mental infirmity leading up to the Executive's Disability, the
amount of the Executive's compensation provided under this Section 3 shall be
reduced by the sum of the amounts, if any, paid to the Executive for the same
period under any disability benefit or pension plan of the Company or any of its
subsidiaries.

         (c)      The Company shall provide to the Executive an automobile owned
or leased by the Company of a make and model appropriate to the Executive's
status or, in lieu thereof, shall provide the Executive with an annual allowance
of not less than $15,000 to partially cover the cost of the business use of an
automobile owned or leased by the Executive.


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         (d)      The Company shall reimburse the Executive's reasonable
expenses for initiation fees, dues and capital assessments for athletic, country
and dining club memberships currently held by the Executive; provided, however,
that if the Executive during the term of his employment with the Company ceases
his membership in any such clubs and any bonds or other capital payments made by
the Company are repaid to the Executive, the Executive shall pay over such
payments to the Company.

         (e)      The Company shall reimburse the Executive for travel, seminar
and other expenses related to the Executive's duties which are incurred and
accounted for in accordance with the historic practices of the Company.

         (f)      Executive shall be entitled to three weeks of paid vacation
per year.

         4.       Termination.

         (a)      The Executive's employment under this Agreement may be
terminated prior to the end of the Term only as follows:

                  (i)      upon the death of the Executive;

                  (ii)     by the Company due to the Disability of the Executive
         upon delivery of a Notice of Termination to the Executive;

                  (iii)    by the Company for Cause upon delivery of a Notice of
         Termination to the Executive; and

                  (iv)     by the Executive for Good Reason upon delivery of a
         Notice of Termination to the Company after any occurrence of a Change
         in Control or in the event of a Constructive Termination.


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         (b)      If the Executive's employment with the Company shall be
terminated during the Term (i) by reason of the Executive's death, or (ii) by
the Company for Disability or Cause, the Company shall pay to the Executive (or
in the case of his death, the Executive's estate) within fifteen days after the
Termination Date a lump sum cash payment equal to the Accrued Compensation and,
if such termination is other than by the Company for Cause, the Pro Rata Bonus.

         (c)      If the Executive's employment with the Company shall be
terminated by the Company in violation of this Agreement, by the Executive for
Good Reason, or in the event of a Constructive Termination in addition to other
rights and remedies available in law or equity, the Executive shall be entitled
to the following:

                  (i)      the Company shall pay the Executive in cash within
         fifteen days of the Termination Date an amount equal to all Accrued
         Compensation and the Pro Rata Bonus;

                  (ii)     the Company shall pay to the Executive in cash at the
         end of each of the thirty-six consecutive 30-day periods following the
         Termination Date an amount equal to one-twelfth of the sum of the Base
         Amount (including any increases in base salary) plus the Bonus Amount
         (including any increases in bonus amount) plus all benefits provided in
         Section 3 and all Director's fees, including retainers, to which the
         Executive would be entitled for the same period, or within 30 days, at
         the Executive's option, a lump sum equal to the present value of the
         payments due under this paragraph (c)(ii); provided, however, that such
         lump sum amount shall be reduced to its net present value assuming an
         interest rate equal to


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         six percent (6%) and 36 equal monthly payments commencing on the
         Termination Date;

                  (iii)    for the period from the Termination Date through the
         date that Executive attains the age of 75 (the "Continuation Period"),
         the Company shall at its expense continue on behalf of the Executive
         and his dependents and beneficiaries the life insurance, disability,
         medical, dental and hospitalization benefits provided (x) in the case
         of a Change in Control, to the Executive at any time during the 90-day
         period prior to the Change in Control or at any time thereafter or (y)
         in other instances, to other similarly situated executives who continue
         in the employ of the Company during the Continuation Period. The
         coverage and benefits (including deductibles and costs) provided in
         this Section 4(c)(iii) during the Continuation Period shall be no less
         favorable to the Executive and his dependents and beneficiaries than
         the most favorable of such coverages and benefits during either of the
         periods referred to in clauses (x) and (y) above; provided, however,
         the Company's obligation hereunder with respect to the foregoing
         benefits shall be limited to the extent that the Executive obtains any
         such benefits pursuant to a subsequent employer's benefit plans, in
         which case the Company may reduce the coverage of any benefits it is
         required to provide the Executive hereunder as long as the aggregate
         coverages and benefits of the combined benefit plans are no less
         favorable to the Executive than the coverages and benefits required to
         be provided hereunder; provided, further, subject to the last sentence
         of this Section 4(c), life insurance shall not be continued longer than
         three years after the Termination Date, even if


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         the Executive has not obtained such other benefits under another
         employer's benefit plan;

                  (iv)     the restrictions on any incentive awards whether now
         in effect for, or hereafter granted to, the Executive under any stock
         option plan or under any other incentive plan, deferred compensation
         plan, agreement or arrangement of the Company or any of its affiliates
         shall lapse and such incentive awards shall become 100% accrued and
         vested, so that, for example, all stock options and stock appreciation
         rights granted to the Executive shall be immediately exercisable and
         shall be 100% vested and any deferred compensation payable under any
         plan, agreement or arrangement shall accrue in total and be immediately
         due and payable in full. The period in which Executive may exercise any
         option granted shall be the full term of such option; and

                  (v)      any retirement benefits or rights, whether now in
         effect for, or hereafter granted to, the Executive under any retirement
         plan or arrangement, shall vest immediately.

This Section 4(c) shall not be interpreted so as to limit any benefits to which
the Executive or his dependents or beneficiaries may be entitled under any of
the Company's employee benefit plans, programs or practices following the
Executive's termination of employment, including, without limitation, retiree
medical and life insurance benefits.

         (d)      The Executive shall not be required to mitigate the amount of
any payment provided for in this Agreement by seeking other employment or
otherwise, and no such payment shall be


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offset or reduced by the amount of any compensation or benefits provided to the
Executive in any subsequent employment except as provided in Section 4(c)(iii).

         (e)      In the event that any payment or benefit (within the meaning
of Section 280 G(b)(2) of the Internal Revenue Code of 1986, as amended (the
"Code")) to the Executive (or for his benefit) paid or payable or distributed or
distributable pursuant to the terms of this Agreement or otherwise in connection
with, or arising out of, his relationship with the Company or a change in
ownership or effective control of the Company or of a substantial portion of its
assets (a "Payment" or "Payments"), would be subject to the excise tax imposed
by Section 4999 of the Code or any interest or penalties are incurred by the
Executive with respect to any such excise or other taxes (such excise tax,
together with any such interest and penalties, are hereinafter collectively
referred to as the "Excise Tax" and any other tax together with any such
interest and penalties are herein referred to as "Other Taxes"), then the
Executive will be entitled to receive an additional payment (a "Gross-Up
Payment") in an amount such that after payment by the Executive of all Excise
Taxes and Other Taxes on the Payments and all Excise Taxes or Other Taxes
imposed upon the Gross-Up Payment, the Executive shall retain that portion of
the Gross-Up Payment equal to the Excise Tax or Other Taxes imposed upon the
Payments.

         (f)      The severance pay and benefits provided for in this Section 4
shall be in lieu of any other severance or termination pay to which the
Executive may be entitled under any Company severance or termination plan,
program, practice or arrangement, and the Executive's entitlement to any other
compensation or benefits shall be determined in accordance with the Company's
employee benefit plans and other applicable programs, policies and practices
then in effect.


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         5.       Trade Secrets. The Executive shall not, at any time, either
during the Term of his employment or after the Termination Date, if such
Termination is for Cause, use or disclose any Trade Secrets of the Company,
except in fulfillment of his duties as the Executive during his employment, for
so long as the pertinent information or data remain Trade Secrets, whether or
not the Trade Secrets are in written or tangible form.

         6.       Successors; Binding Agreement.

         (a)      This Agreement shall be binding upon and shall inure to the
benefit of the Company, its Successors and Assigns, and the Company shall
require any Successors and Assigns to expressly assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform it if no succession or assignment had taken place.

         (b)      Neither this Agreement nor any right or interest hereunder
shall be assignable or transferable by the Executive, his beneficiaries or legal
representatives, except by will or by the laws of descent and distribution. This
Agreement shall inure to the benefit of and be enforceable by the Executive's
legal personal representative.

         7.       Fees and Expenses. The Company shall pay all legal fees and
related expenses incurred by the Executive as they become due as a result of (a)
the Executive's termination of employment and (b) the Executive's seeking to
obtain or enforce any right or benefit provided by this Agreement; provided,
however, that the circumstances set forth in clauses (a) and (b) occurred on or
after a Change in Control.

         8.       Notice. All notices and other communications provided for in
the Agreement (including the Notice of Termination) shall be in writing and
shall be deemed to have been duly given upon personal delivery or receipt when
sent by certified mail, return receipt requested,


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postage prepaid, or a nationally recognized overnight courier service that
provides written proof of delivery, addressed to the respective addresses last
given by each party to the other, provided, however, that all notices to the
Company shall be directed to the attention of the Board of Directors with a copy
to the Chief Executive Officer of the Company.

         9.       Settlement of Claims. The Company's obligation to make the
payments provided for in this Agreement and to otherwise perform its obligations
hereunder shall not be affected by any circumstances, including, without
limitation, any set-off, counterclaim, recoupment, defense or other right which
the Company may have against the Executive or others. The Company may, however,
withhold from any benefits payable under this Agreement all federal, state, city
or other taxes as shall be required pursuant to any law or governmental
regulation or ruling,

         10.      Modification and Waiver. No provisions of this Agreement may
be modified, waived or discharged unless such waiver, modification or discharge
is agreed to in writing and signed by the Executive and the Company. No waiver
by any party hereto at any time of any breach by the other party hereto of, or
compliance with, any condition or provision of this Agreement to be performed by
such other party shall be deemed a waiver of similar or dissimilar provisions or
conditions at the same or at any prior or subsequent time.

         11.      Governing Law. This Agreement shall be governed by and
construed and enforced in accordance with the laws of the State of Delaware
without giving effect to the conflict of laws principles thereof.

         12.      Severability. The provisions of this Agreement shall be deemed
severable, and the invalidity or unenforceability of any provision shall not
affect the validity or enforceability of the other provisions hereof.


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         13.      Entire Agreement. This Agreement constitutes the entire
agreement between the parties hereto and supersedes all prior agreements, if
any, understandings and arrangements, oral or written, between the parties
hereto with respect to the subject matter hereof.

         14.      Headings. The headings of Sections herein are included solely
for convenience of reference and shall not control the meaning or interpretation
of any of the provisions of this Agreement.

         15.      Counterparts. This Agreement may be executed in one or more
counterparts, each shall be deemed an original but all of which together shall
constitute one and the same instrument.

         16.      Definitions. For purposes of this Agreement, the following
terms shall have the following meanings:

         (a)      "Accrued Compensation" shall mean an amount which shall
include all amounts earned or accrued through the Termination Date but not paid
as of the Termination Date including without limitation, (i) base salary, (ii)
deferred compensation accumulated under any plan, arrangement or agreement,
(iii) reimbursement for reasonable and necessary expenses incurred by the
Executive on behalf of the Company prior to the Termination Date, and (iv)
bonuses and incentive compensation, including stock options (other than the Pro
Rata Bonus).

         (b)      "Base Amount" shall mean the greater of the Executive's annual
base salary (i) at the rate in effect on the Termination Date or (ii) at the
highest rate in effect at any time during the 90-day period prior to a Change in
Control, and shall include all amounts of his base salary that are deferred
under any plans, arrangements or agreements of the Company or any of its
affiliates.

         (c)      "Bonus Amount" shall mean the greater of (i) the most recent
annual bonus paid or payable to the Executive, or, if greater, the annual bonus
paid or payable for the year ended


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prior to the fiscal year during which a Change in Control occurred, or (ii) the
average of the annual bonuses paid or payable during the three full fiscal years
ended prior to the Termination Date or, if greater, the three full fiscal years
ended prior to a Change in Control (or, in each case, such lesser period for
which annual bonuses were paid or payable to the Executive).

         (d)      The termination of the Executive's employment shall be for
"Cause" if it is a result of:

                  (i)      any act that (A) constitutes, on the part of the
         Executive, fraud, dishonesty gross malfeasance of duty or (B) is
         demonstrably likely to lead to material injury to the Company or
         resulted or was intended to result in direct or indirect gain to or
         personal enrichment of the Executive; or

                  (ii)     the conviction (from which no appeal may be or is
         timely taken) of the Executive of a felony; or

                  (iii)    the suspension or removal of the Executive by federal
         or state banking regulatory authorities acting under lawful authority
         pursuant to provisions of federal or state law or regulation which may
         be in effect from time to time; or

                  (iv)     any past or present action which may have occurred
         during or prior to the Executive's employment which resulted or results
         in any judgment, consent decrees, or penalties from any court, federal
         or state authority or otherwise, or which is required to be disclosed
         to any regulatory authority;

provided, however, that in the case of clause (i) above, such conduct shall not
constitute Cause:

                  (x)      unless (A) there shall have been delivered to the
         Executive a written notice setting forth with specificity the reasons
         that the Board believes the Executive's


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         conduct meets the criteria set forth in clause (i), (B) the Executive
         shall have been provided the opportunity to be heard in person by the
         Board (with the assistance of the Executive's counsel if the Executive
         so desires), and (C) after such hearing, the termination is evidenced
         by a resolution adopted in good faith by two-thirds of the members of
         the Board (other than the Executive); or

                  (y)      if such conduct (A) was believed by the Executive in
         good faith to have been in or not opposed to the interests of the
         Company, and (B) was not intended to and did not result in the direct
         or indirect gain to or personal enrichment of the Executive.

         (e)      A "Change in Control" shall mean the occurrence during the
Term of any of the following events:

                  (i)      An acquisition (other than directly from the Company)
         of any voting securities of the Company (the "Voting Securities") by
         any "Person" (as the term person is used for purposes of Section 13(d)
         or 14(d) of the Securities Exchange Act of 1934 (the "1934 Act"))
         immediately after which such Person has "Beneficial Ownership" (within
         the meaning of Rule 13d-3 promulgated under the 1934 Act) of 20% or
         more of the combined voting power of the Company's then outstanding
         Voting Securities; provided, however, that in determining whether a
         Change in Control has occurred, Voting Securities which are acquired in
         a "Non-Control Acquisition" (as hereinafter defined) shall not
         constitute an acquisition which would cause a Change in Control. A
         "Non-Control Acquisition" shall mean an acquisition by (A) an employee
         benefit plan (or a trust forming a part thereof)


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         maintained by (x) the Company or (y) any corporation or other Person of
         which a majority of its voting power or its equity securities or equity
         interest is owned directly or indirectly by the Company (a
         "Subsidiary"), (B) the Company or any 80% owned subsidiary, or (C) any
         Person in connection with a "Non-Control Transaction" (as hereinafter
         defined);

                  (ii)     The individuals who, as of the date of this
         Agreement, are members of the Board (the "Incumbent Board") cease for
         any reason to constitute at least two-thirds of the Board; provided,
         however, that if the election, or nomination for election by the
         Company's stockholders, of any new director was approved by a vote of
         at least two-thirds of the Incumbent Board, such new director shall,
         for purposes of this Agreement, be considered as a member of the
         Incumbent Board; provided, further, that no individual shall be
         considered a member of the Incumbent Board if such individual initially
         assumed office as a result of either an actual or threatened "Election
         Contest" (as described in Rule 14a-11 promulgated under the 1934 Act)
         or other actual or threatened solicitation of proxies or consents by or
         on behalf of a Person other than the Board (a "Proxy Contest")
         including by reason of any agreement intended to avoid or settle any
         Election Contest or Proxy Contest; or

                  (iii)    Approval by stockholders of the Company of:

                           (A)      A merger, consolidation or reorganization
                  involving the Company, unless


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                                    (1)      the stockholders of the Company,
                           immediately before such merger, consolidation or
                           reorganization, own, directly or indirectly,
                           immediately following such merger, consolidation or
                           reorganization, at least two-thirds of the combined
                           voting power of the outstanding voting securities of
                           the corporation resulting from such in substantially
                           the same proportion as their ownership of the Voting
                           Securities immediately before such merger,
                           consolidation or reorganization, and

                                    (2)      the individuals who were members of
                           the Incumbent Board immediately prior to the
                           execution of the agreement providing for such merger,
                           consolidation or reorganization constitute at least
                           two-thirds of the members of the board of directors
                           of the Surviving Corporation.

                  (A transaction described in the immediately preceding clause
                  (1) and (2) shall herein be referred to as a "Non-Control
                  Transaction.")

                           (B)      A complete liquidation or dissolution of the
                  Company; or

                           (C)      An agreement for the sale or other
                  disposition of all or substantially all of the assets of the
                  Company to any Person.

                  (iv)     Notwithstanding anything contained in this Agreement
         to the contrary, if the Executive's employment is terminated prior to a
         Change in Control and the Executive reasonably demonstrates that such
         termination (A) was at the request of a third party who has indicated
         an intention or taken steps reasonably



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         calculated to effect a Change in Control and who effectuates a Change
         in Control (a "Third Party") or (B) otherwise occurred in connection
         with, or in anticipation of, a Change in Control which actually occurs,
         then for all purposes of this Agreement, the date of a Change in
         Control with respect to the Executive shall mean the date immediately
         prior to the date of such termination of the Executive's employment.

         (f)      Constructive Termination" shall mean Executive's voluntary
Termination of Service within ninety (90) days following the occurrence of one
or more of the following events, except if such event is approved in writing by
Executive prior to its occurrence:

                  (i)      A material breach of this Agreement by the Company
         that is not remedied within thirty (30) business days after receiving
         written notification by Executive of such failure; or

                  (ii)     A material reduction in Executive's title or
         responsibilities unless replaced with a new title or new
         responsibilities of comparable stature or value to the Company within
         thirty (30) business days.

         (g)      "Disability" shall mean a physical or mental infirmity which
impairs the Executive's ability to substantially perform his duties with the
Company for a period of 180 consecutive days, as determined by an independent
physician selected with the approval of both the Company and the Executive which
shall not be unreasonably withheld.

         (h)      "Effective Date" shall mean the day and year first above
written.

         (i)      "Good Reason" shall mean the occurrence after a Change in
Control of any of the events or conditions described in subsections (i) through
(viii) hereof:


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                  (i)      a change in the Executive's status, title, position
         or responsibilities (including reporting responsibilities) which, in
         the Executive's reasonable judgment, represents an a material adverse
         change from his status, office, title, position or responsibilities as
         in effect at any time within 90 days preceding the date of a Change in
         Control or at any time thereafter; the assignment to the Executive of
         any duties or responsibilities which, in the Executive's reasonable
         judgment, are inconsistent with his status, office, title, position or
         responsibilities as in effect at any time within 90 days preceding the
         date of a Change in Control or at any time thereafter; any removal of
         the Executive from, or failure to reappoint or reelect him to, any such
         status, office, title, position or responsibility; or any other change
         in condition or circumstances that in the Executive's reasonable
         judgment makes it materially more difficult for the Executive to carry
         out the duties and responsibilities of his office that existed at any
         time within 90 days preceding the date of a Change in Control or at any
         time thereafter;

                  (ii)     a reduction in the Executive's base salary or any
         failure to pay the Executive any compensation or benefits to which he
         is entitled within five days of the date due;

                  (iii)    the Company's requiring the Executive to be based at
         any place outside a 30-mile radius from the executive offices occupied
         by the Executive immediately prior to a Change in Control, except for
         reasonably required travel on the Company's business which is not
         materially greater than such travel requirements prior to the Change in
         Control;


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                  (iv)     the failure by the Company to (A) continue in effect
         (without reduction in benefit level and/or reward opportunities) any
         material compensation or employee benefit plan in which the Executive
         was participating at any time within ninety days preceding the date of
         a Change in Control or at any time thereafter, unless such plan is
         replaced with a plan that provides substantially equivalent
         compensation or benefits to the Executive or (B) provide the Executive
         with compensation and benefits, in the aggregate, at least equal (in
         terms of benefit levels and/or reward opportunities) to those provided
         for under each other employee benefit plan, program and practice in
         which the Executive was participating at any time within 90 days
         preceding the date of a Change in Control or at any time thereafter;

                  (v)      the insolvency, or the filing by any person or
         entity, including the Company, of a petition for bankruptcy of the
         Company, or other relief under any other moratorium or similar law,
         which petition is not dismissed within 60 days;

                  (vi)     any material breach by the Company of this Agreement;

                  (vii)    any purported termination of the Executive's
         employment for Cause by the Company which does not comply with the
         terms of this Agreement; or

                  (viii)   the failure of the Company to obtain an agreement,
         satisfactory to the Executive, from any Successors and Assigns to
         assume and agree to perform this Agreement, required by Section 6(a)
         hereof.

Any event or condition described in clause (i) through (viii) above which occurs
prior to a Change in Control but which the Executive reasonably demonstrates (A)
was at the request of a Third Party, or (B) otherwise arose in connection with,
or in anticipation of, a Change in Control which


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actually occurs, shall constitute Good Reason for purposes of this Agreement,
notwithstanding that it occurred prior to the Change in Control. The Executive's
right to terminate his employment for Good Reason shall not be affected by his
incapacity due to physical or mental illness.

         (j)      "Notice of Termination" shall mean a written notice of
termination from the Company or the Executive which specifies an effective date
of termination, indicates the specific termination provision in this Agreement
relied upon, and sets forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of the Executive's employment.

         (k)      "Pro Rata Bonus" shall mean an amount equal to the Bonus
Amount multiplied by a fraction the numerator of which is the number of days in
the applicable year through the Termination Date and the denominator of which is
365.

         (l)      "Successors and Assigns" shall mean a corporation or other
entity acquiring all or substantially all the assets and business of the Company
(including this Agreement), whether by operation of law or otherwise.

         (m)      "Termination Date" shall mean, in the case of the Executive's
death, his date of death, and in all other cases, the date specified in the
Notice of Termination.

         (n)      "Trade Secrets" shall mean any information, including but not
limited to technical or non-technical data, a formula, a pattern, a compilation,
a program, a device, a method, a technique, a drawing, a process, financial
data, financial plans, product plans, information on customers, or a list of
actual or potential customers or suppliers, which: (i) derives economic value,
actual or potential, from not being generally known to, and not being readily
ascertainable by proper means by, other persons who can obtain economic value
from its disclosure or use, and (ii) is the subject of efforts that are
reasonable under the circumstances to maintain its secrecy.


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         IN WITNESS WHEREOF, the Company has caused this Agreement to be
executed and its seal to be affixed hereunto by its officers thereunto duly
authorized, and the Executive has signed and sealed this Agreement, effective as
of the date first above written.

                                     THE BANC CORPORATION

                                     By:   /s/ James A. Taylor
                                        ----------------------------
                                       Its:    Chairman
                                            ------------------------


ATTEST:

/s/ James A. Taylor, Jr.
-------------------------------------
     James A. Taylor, Jr.
     --------------------
     Corporate Secretary

(CORPORATE SEAL)

                                     EXECUTIVE:

                                     /s/ David R. Carter         (L.S.)
                                     ----------------------------
                                           David R. Carter


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